HDFC Bank Personal Loan for lawyers

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Amrita Sinha

Amrita Sinha comes with a background in journalism and mass communication, drawing from her roots in journalism, she has found her voice in the world of finance. As an accomplished writer, she specialises in Financial Services, Mutual Funds, Loan Assessments, Banking & Loan Products. She has established herself as a reliable expert in the field, offering valuable advice to those looking to navigate the various aspects of personal finance.

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Co-Founder, Square Yards & Chief Business Officer, Urban Money

Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

HDFC Lawyers Personal Loan typically falls under the category of professional loans. According to the professional loan criteria, eligible lawyers can secure a loan amount of up to Rs 50 lakh. In certain cases, the bank may extend the maximum loan amount up to Rs 75 lakhs as well, depending on your creditworthiness and location. Besides, the maximum loan tenure you can avail of ranges from 12 to 60 months, making it a more borrower-friendly financing option.

However, with the assistance of an HDFC lawyers instant loan, you can easily begin your legal practice. This loan can cover various expenses, including hiring employees, expanding your business, pursuing advanced courses, and other related costs.

HDFC Personal Loan for Lawyers – Highlights

Here are the key parameters of an HDFC lawyers Personal loan rupees:

Highlights
Interest Rates	11.01% to 14.00% p.a.
Processing Fees	Up to 2.00% of the loan amount
Loan Amount	Up to 50 lakh
Loan Tenure	12 months – 60 months
Eligibility	Ought to be practising or consulting as a lawyer.

Compare Lawyers’ Loans From Other Banks

Following is the comparison of HDFC lawyers instant loans with other banks and NBFCs in India:

Bank/NBFC	Interest Rate (p.a.)	Processing Fee	Loan Amount	Tenure
HDFC Bank	11.01% onwards	Up to 2.00% of the loan amount	Up to Rs 50 lakhs	1 – 5 years
ICICI Bank	10.50% onwards	Up to 2.50% of the loan amount	Up to Rs 50 lakhs	1 – 7 years
Bajaj Finserv	11% onwards	Up to 3.93% of the loan amount	Up to Rs 55 lakhs	1 – 8 years
Fullerton India	11.99% onwards	Up to 6% of the loan amount	Up to Rs 25 lakhs	1 – 5 years
Kotak Mahindra Bank	10.99% onwards	Up to 3% of the loan amount	Up to Rs 40 lakhs	1 – 5 years
Standard Chartered Bank	11.99% onwards	Up to 2.25% of the loan amount.	Up to Rs 50 lakhs	1 – 5 years
Central Bank of India	12% onwards	Up to 1% of the loan amount.	Up to Rs 20 lakhs	1 – 7 years
Bandhan Bank	11.55% onwards	Up to 3% of the loan amount	Up to Rs 25 lakhs	1 – 5 years
State Bank of India	11% onwards	Up to 1.01% of the loan amount.	Up to Rs 20 lakhs	1 – 7 years

HDFC Personal Loan for Lawyers – Fees and Charges

Here are the fees and charges for a HDFC lawyers Personal loan:

Fee/Charge	Amount
Processing Fee	Up to 2.00% of the loan amount
Premature Closure Charges (For Full Payment)	1) Up to 24 EMI repayment – 4% of principal outstanding, 2) Post 24 EMI and up to 36 EMI repayments – 3% of principal outstanding, 3) Post 36 EMI repayment – 2% of principal outstanding.
Delayed instalment payment charge	18% annual interest, plus government taxes on overdue instalments amount.
Repayment Mode Swap Charges	Rs 500
Amortisation Schedule Charges / Repayment Schedule Charges	Rs 50/- Per Instance
Stamp Duty & other statutory charges	As per applicable laws of the state
Loan cancellation Charges & Rebooking Charges	Rs 1000/- plus applicable taxes

HDFC Personal Loan for Lawyers – Documents Required

The following are the required documents you may submit along with your loan application for HDFC lawyers instant loan:

Proof of Identity: PAN Card, Passport, Voter ID or Driving License.
Proof of Address: Recent copy of Utility Bills, Passport, Driving License or Aadhaar Card.
Proof of Education: Certificate for the highest professional degree
Proof of Income: Latest 6 months Bank Statement (where salary/income is credited)
Proof of Profession/Business: Latest ITR, Balance Sheet, Profit and Loss Account for the last 2 years.
Proof of Continuation: ITR, Trade License, Establishment Certificate, or Sales Tax certificate.
Other Mandatory Documents: Sole Proprietorship Declaration, Certified Copy of the Partnership Agreement, a Director-certified true copy of the Memorandum and Articles of Association, and a Board Resolution.

HDFC Personal Loan for Lawyers – Eligibility Criteria

The following are the eligibility criteria to apply HDFC lawyers Personal loan:

Age: You must be at least 25 years old and under 65 years of age at the time of loan matures.
Profession Type: You must be practising or consulting as a lawyer.
Work Experience: You must have at least 4 to 5 years of work experience.
Income Requirement: You must have an annual income of at least Rs 1 lakh, and your business should have been profitable for the last two years.
Credit History: You must have a good credit score and repayment history.